After all of the fuss and drama of his weird authorized drama with Twitter, new stories counsel it was all only a negotiating ploy by Elon Musk.
When Musk first made his shock bid to purchase Twitter it was at a reasonably hefty premium over the market worth, though removed from an distinctive one. Unsolicited acquisition bids usually attempt to make shareholders a proposal they’ll’t refuse and it seems like Musk even threw in a cheeky reference to hashish tradition for fun.
However quickly after, the joke was on him as his supply was accepted after which international inventory markets tanked. Musk appeared to undergo from patrons regret and, below the guise of the due diligence that ought to have been accomplished earlier than making the bid, tried to wriggle out of the place he had put himself in. His principal objection was they he felt Twitter had been dishonest concerning the stage of spam and bot accounts on the platform, thus invalidated the phrases of the acquisition settlement.
A lot authorized jostling ensued augmented, appropriately sufficient, with a superfluous battle for public hearts and minds performed primarily over Twitter. Because the authorized second of reality loomed, nevertheless, Musk apparently misplaced his nerve and this week determined he would proceed with the deal as agreed months in the past.
The obvious inference to take from that sequence of occasions is that Musk by no means fancied the considered truly going to court docket over the matter. Which begs the query of what the prior authorized shenanigans have been all about. Certainly Musk was both attempting to cut back the quantity he must compensate Twitter for backing out of his dedication, or he was attempting pay much less for finishing the agreed acquisition.
In accordance with reporting by the WSJ, amongst different media, Musk had been attempting to get the value down till fairly not too long ago. Assuming these stories are correct it’s subsequently exhausting to keep away from the conclusion that Musk was by no means actually that bothered about bot accounts and was merely utilizing the declare as a means of renegotiating the value after it had been agreed.
How the US authorized system feels about getting used as a pawn in Musk’s company video games stays to be seen. The entire thing would actually backfire on him if the court docket insisted on continuing regardless. That appears unlikely however, if nothing else, Musk’s repute as a enterprise genius has taken successful from his failed try at what now appears to have been a large bluff.